Brighthouse Financial Announces Effectiveness of S-4 Registration Statement and Launch of Debt Exchange Offer for up to $1.5 billion of its 3.700% Senior Notes due 2027 and up to $1.5 billion of its 4.700% Senior Notes due 2047

CHARLOTTE, NC March 28, 2018

Brighthouse Financial, Inc. ("Brighthouse Financial" or the "Company") (Nasdaq: BHF) today announced that, effective at 10:00 a.m., New York City time on Wednesday, March 28, 2018, the U.S. Securities Exchange Commission declared effective its previously filed Registration Statement on Form S-4 for the exchange of up to $1.5 billion aggregate principal amount of its 3.700% Senior Notes due 2027 (the "Old  3.700% Senior Notes") and up to $1.5 billion aggregate principal amount of its 4.700% Senior Notes due 2047 (the "Old 4.700% Senior Notes" and, together with the Old 3.700% Senior Notes, the "Old Notes"), for a like principal amount of its 3.700% Senior Notes due 2027 (the "New 3.700% Senior Notes") and 4.700% Senior Notes due 2047 (the "New 4.700% Senior Notes" and, together with the New 3.700% Senior Notes, the "New Notes"), respectively, which have been registered under the Securities Act of 1933, as amended.

Accordingly, the Company announced that, effective March 28, 2018, it will launch its offer to exchange its Old Notes for its New Notes. This offer will expire at 5:00 p.m. New York City time on April 25, 2018, unless otherwise extended

This press release is not an offer to exchange the New Notes for the Old Notes, nor is it the solicitation of an offer to exchange, which the Company is making only through the exchange offer prospectus, dated March 28, 2018, together with the related letter of transmittal. There will not be any offer or sale of the New Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the exchange offer prospectus and related documents may be obtained from U.S. Bank National Association, the exchange agent for the exchange offer, at the following address:

U.S. Bank National Association
Attention: Corporate Actions
111 Fillmore Avenue
St. Paul, MN 55107-1402
cts.specfinance@usbank.com
Facsimile: (651) 466-7367
Phone: (800) 934-6802

About Brighthouse Financial
Brighthouse Financial (Nasdaq: BHF) is a major provider of annuities and life insurance in the U.S. Established by MetLife, we are on a mission to help people achieve financial security. We specialize inproducts that play an essential role in helping people protect what they’ve earned and ensure it lasts. Learn more at www.brighthousefinancial.com.

CONTACT:

FOR INVESTORS
David Rosenbaum
(980) 949-3326
david.rosenbaum@brighthousefinancial.com

For MEDIA:
Meghan Lantier
(980) 949-4142
mlantier@brighthousefinancial.com

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